Microlearning Course: Crypto Assets for Beginners
Duration: 3.5 hours
Price: R855.00
Microlearning Course: Crypto Assets for Beginners
Overview
This course provides a comprehensive introduction to digital currencies, explaining the basics of Crypto assets and blockchain assets .Crypto assets are sure to shape the future of how we transact. SARS has taken a keen interest in enforcing compliance with taxation on crypto assets. Tax practitioners have no choice but to understand crypto assets and the taxation issues thereof.
We will unpack the pertinent estate planning considerations to ensure adequate planning for crypto assets, including crypto currencies, non-fungible tokens (NFTs), Kitties and several other forms of crypto assets. The webinar will also provide guidance and considerations for drafting the last will or testament.
Micro Learning Course Content:
- Module 1: Taxation of Crypto Assets:
- In this module, we will specifically discuss the following:
- What is a crypto asset?
- Why is cryptocurrency not a currency?
- What are SARS's views on crypto assets?
- What are the different income sources of crypto assets?
- How to deal with the crypto asset question in the context of income vs capital gain.
- When does a taxable event occur?
- Dealing with trading stock valuation.
- Ring-fencing of assessed losses.
- How to value crypto currency for calculations.
- What is the VAT consequences of dealing with crypto assets?
- How to complete crypto assets revenue and or capital gains/losses on the ITR12.
- In this module, we will specifically discuss the following:
- Module 2: Current Crypto Assets and Taxation Issues:
- In this section, we will cover the following:
- Mining and staking taxation.
- Taxation of airdrops.
- Is taxation of airdrops straight forward?
- US Crypto Bill
- The Global need for proper guidance by tax authorities
- Enforceability by global tax authorities
- In this section, we will cover the following:
- Module 3.1: Estate planning of crypto assets and NFTs
- In this section, we will cover the following:
- FBI using Blockchain creators
- Luno – a South African situs asset
- Crypto can be held in ZAR
- Digital Death
- Digital Divorce
- Crypto in accrual claims
- Basics – Tax Administration Act
- Basics – Income Tax Compliance
- Basics – Tax on death
- Estate Duty – Sold vs. transferred to legatee
- Estate Duty – Crypto Assets
- Take Home CGT: “Asset” excludes currency
- Estate Administration Act – Basics
- Estate Planning in the digital age
- Foreign Assets including Crypto
- What is a Codicil
- Gift Mortis Causa
- Donatio Mortis Causa (in SA)
- In this section, we will cover the following:
- Module 3.2: Estate planning of crypto assets and NFT
- In this section, we will cover the following:
- Duty of the Executor
- CGT on death
- CGT on digital assets upon death
- Exchange Control – Crypto Assets
- Exchange Control (Excon) rules on DATA
- Excon Rules (SARB FinSurv) on Crypto
- Global Regulatory Update
- CBDC - The SA future
- Can crypto-assets be held in a SA trust
- CISA in USA
- Compliance – deceased estate
- Estate Duty – No access to Crypto Asset
- ITA – Basics – Crypto Assets
- Excon FAQ – Crypto Assets
- Basics – Tax on death
- Basics – VAT
- Value Added Tax Summary
- Bitfinex hack
- How is SARS tracing crypto asset transactions?
- In this section, we will cover the following:
Additional Material:
- Notes: Module 1 - Taxation of Crypto Assets
- Notes: Module 2 - Current Crypto Assets and Taxation Issues
- Notes: Module 3.1 - Estate planning of crypto assets and NFTs
- Notes: Module 3.2 - Estate planning of crypto assets and NFTs
Competencies developed in this Micro Learning Course
- Begginers will have a solid foundation in crypto assset
- Inform clients of the taxation on mining and staking crypto transactions.
- Understand the considerations for estate planning in the modern world
- Knowledgeable about taxation of blockchain “assets,” crypto assets, and other modern assets.
- Updated on important international tax authority trends regarding crypto taxation and the first court cases.
- Assess practical crypto tax scenarios.
- Advise clients on the exchange control considerations, i.e., acquiring, trading, and inheriting foreign assets including crypto assets, NFTs and Kitties.
What's Included:
Module 3.2: Estate planning of crypto assets and NFTs
Overview This module will unpack the pertinent estate planning considerations to ensure adequate planning for crypto assets, including crypto currencies, non-fungible tokens (NFTs), Kitties and several other forms of crypto assets. The webina r will also provide guidance and considerations for drafting the last will or testament. The following points will be unpacked How to deal with the crypto assets, not knowing the nature of the assets to be held on the date of death. May the executor gain or be granted access to blockchain and encrypted wallets? Exchange control, Tax Act, and other regulatory restrictions to consider. Competencies developed Able to understand the considerations for estate planning in the modern world. Knowledgeable about taxation of blockchain “assets,” crypto assets, and other modern assets. Able to advise clients on the exchange control considerations, i.e., acquiring, trading, and inheriting foreign assets including crypto assets, NFTs and Kitties.
1 Hour | R99.00
Hugo van ZylModule 2: Current Crypto Assets and Taxation Issues
Overview Cryptocurrencies have entered the mainstream in the past few years, attracting the attention of the South African Revenue Service (SARS). SARS actively started to audit cryptocurrency investors, demanding proof of transactions from variou s crypto investment platforms. The tax implications of cryptocurrency trading and investing remains a contentious issue, in part due to the complexity around crypto-related transactions, including: Hard forks (where one cryptocurrency splits into two separate ones). Airdrops (where a new cryptocurrency is sent to owners of an existing cryptocurrency). Staked rewards (where a cryptocurrency earns you a type of interest). Mining. It is essential for tax professionals to stay updated with the latest developments and the complexity around crypto-related transactions.
0.5 Hour | R49.00
Chris HerbstModule 1: Taxation of Crypto Assets
Overview Crypto assets are sure to shape the future of how we transact. SARS has taken a keen interest in enforcing compliance with taxation on crypto assets. Tax practitioners have no choice but to understand crypto assets and the taxation issues thereof. Video Content In this video, we will specifically discuss the following: What is a crypto asset? Why is cryptocurrency not a currency? What are SARS's views on crypto assets? What are the different income sources of crypto assets? How to deal with the crypto asset question in the context of income vs capital gain. When does a taxable event occur? Dealing with trading stock valuation. Ring-fencing of assessed losses. How to value crypto currency for calculations. What is the VAT consequences of dealing with crypto assets? How to complete crypto assets revenue and or capital gains/losses on the ITR12.
1 Hour | R99.00
Chris HerbstModule 3.1 Estate planning of crypto assets and NFTs
Overview This video will unpack the pertinent estate planning considerations to ensure adequate planning for crypto assets, including crypto currencies, non-fungible tokens (NFTs), Kitties and several other forms of crypto assets. The video will a lso provide guidance and considerations for drafting the last will or testament. Video Content FBI using Blockchain creators Luno – a South African situs asset? Crypto can be held in ZAR Digital Death Digital Divorce Crypto in accrual claims Basics – Tax Administration Act Basics – Income Tax Compliance Basics – Tax on death Estate Duty – Sold vs. transferred to legatee Estate Duty – Crypto Assets Take Home CGT: “Asset” excludes currency Estate Administration Act – Basics Estate Planning in the digital age Foreign Assets including Crypto What is a Codicil Gift Mortis Causa Donatio Mortis Causa (in SA)
